This is a rush transcript from "The Five," November 4, 2014. This copy may not be in its final form and may be updated.

KIMBERLY GUILFOYLE, CO-HOST: Hello, everyone, Happy Election Day. I'm Kimberly Guilfoyle, along with Bob Beckel, Eric Bolling, Dana Perino and Greg Gutfeld. It's 5 o'clock in New York City and this is "The Five."

It is decision today across the country grab your popcorn America, because we have quite a pre-game show for you tonight. Special election coverage kickoff begins in one hour from now on Fox News, polls close in just two hours from now in some key states, with in races that could determine the new balance of power in Washington, among them, Georgia, Kentucky and Virginia. Republicans are hoping to recapture the Senate, and they've got a very good chance with some inadvertent help from the president.

(BEGIN VIDEO CLIP) BARACK OBAMA, PRESIDENT OF THE UNITED STATES OF AMERICA: I'm not on the ballot this poll. But made no mistake, these policies are on the ballot, every single one of them.

CHARLES KRAUTHAMMER, SYNDICATED COLUMNIST: This is a referendum on Obama's hyper liberalism and we're six years in. And we see the results of Obamacare, we see the results of the stimulus who works recovery since the Second World War. I don't have to go through all the scandals, all the failures abroad and here at home, this is liberalism on trial.


GUILFOYLE: Liberalism on trial, and it seems Dana Perino, Barack Obama on the ballot whether he likes it or not.

DANA PERINO, CO-HOST: Should we call our first witness for this trial, Bob Beckel.

GUILFOYLE: Shall we.

PERINO: They look exciting thing about tonight, for me, I watch these results, but I also -- tonight, on during the special election coverage on Fox News. Bob and I are going to be seated with Charles Krauthammer, so Bob will get a chance to talk to one of his five heroes.

BOB BECKEL, CO-HOST: I've been missing Charles, haven't seen much after --

GUILFOYLE: you don't seem.

BECKEL: You know, when Charles says liberalism is on trial, you know, he's usually not given to hyperbole, but this is ridiculous. I mean, every cycle has, you know somebody in the White House and somebody gets beaten and so you say, "Conservatism is on trial, liberalism is on trial," it's not on trial, I mean, they're very few people are going to be voting. And if that was the case, liberalism won three years ago didn't they?

PERINO: Right. Go ahead, Greg.

GREG GUTFELD, CO-HOST: It's not, it's not a referendum on liberalism, it's a referendum on failure. Because the fact is, President Obama did not -- he actually did not -- he got all of his ideas through, he chased his dream, which turned out to be our nightmare. And what's interesting, the amazing feature of this administration is that no one cares, like nobody cares. How many people voted for Obama who have no interest in his success or his failure? To them the election was a one night stand and the rest of the country got knocked up. But there's nobody who really gives a damn. That's what blows my mind.

BECKEL: You're hitting very close to home when you say things like that.

GUILFOYLE: The balance of power in play, key states will be coming back in a matter of hours and we may know in fact, what direction this is going to go. Take a saw the numbers, what do the Republicans need to get and what do you think they have so far?

ERIC BOLLING, CO-HOST: Well, we talked Senate last night. K.G., 36 Senate races they need six to pick -- need to pick up six to get - - to get the Senate back. All 435 Congressional seats are up, 233 now in the hands of Republicans, it looks like there could be 10 more, that will be good as Bob well knows, if there are 20 to 25 tea party voting caucus, you can actually pass it up in the house without the tea party. That way, 36 gubernatorial races, now that one looks like they -- the Democrats may pick up one, maybe two. Is Barack Obama on the ballot? If there's no better indication that Barack Obama is in fact on the ballot. Look, no further than North Carolina where Kay Hagan had Barack Obama ad that she was playing on TV. Thom Tillis was smart enough to realize that there's a referendum against Barack Obama, on across the Senate races in the country. Actually, took her ad and played it on his Facebook page saying, "Look, if you want more of Barack Obama, this is what you want to get with Kay Hagan." So that, that how pushed that way in.


BECKEL: I was just gonna say that the number of people who would go to his webpage is probably more likely are not.


BOLLING: Fair enough, but, but would you agree that Barack Obama's 38 percent or 37 percent approval rating is definitely on the ballot across the country? BECKEL: You have to look at where these radio spots were playing, and where they being played is on the black belt, they called the black belt on North Carolina on the Virginia, North Carolina border, which is, about 90 percent black. And that's the radio station they're playing on, and that's about base turnout and it makes a lot of sense.

BOLLING: But for Tillis to play it?

BECKEL: Well, Tillis -- I mean who's gonna care about Tillis Facebook except for Tillis people?

BOLLING: No, the point is, he wasn't hiding from, he wasn't -- you know, he realized that was a negative for Kay Hagan, so he put it up on his platform.

BECKEL: Well, it wasn't negative.

BOLLING: Regardless. K.G., the couple of good thing, CBS News poll says, "The number one thing that should -- the Congress should address immediately, the economy by 38 percent, next is health care, 23 percent," and if you go to USA Today poll saying, "If there's one thing that a Republican Senate should tackle, first thing would be a job creation bill," that's what they want first. Next would be National security, immigration would be third.

GUILFOYLE: I want to talk about another bit of news today, that I thought was interesting because, I had an interview this morning with Orman, the independent candidate. Who wouldn't -- with kind of (inaudible) and didn't want to say, the inner caucus with the Democrats, she was trying to back off from that. And then you had Dana, Vice President Biden make these comments, let's take a listen and get your reaction.


JOE BIDEN, VICE PRESIDENT OF THE UNITED STATES OF AMERICA: I think, you know, we have a chance of picking up, you know, an independent who will be with us in the state of Kansas. So, I think we're going to end up with 52 about, in that range, Democratic votes.


GUILFOYLE: And then what happened from that?

PERINO: Well, this is -- the Kansas has been -- normally, you wouldn't even talk about Kansas, because it would be a reliably Republican state.

GUILFOYLE: That is right.

PERINO: There -- Pat Roberts, is the incumbent, is in the race of his life, and I think he'll probably pull it out. But, this Orman character, so -- because he's an independent, and he refuses to tell the voters of Kansas whether he would caucus with the Democrats or the Republicans, as if he is waiting to see who the winner is, and that's who he'll decide to caucus with. But Biden said today, that he'll be with the Democrats, OK, that's what everyone is assuming. But maybe the voters in Kansas who are on the fence, they may not like Roberts, that maybe we'll give this independent guy a try, he's not so independent, but do also think that it shows that the White House, the political operation has not been so tight. They had several mistakes including calling Bruce Bailey -- I'm sorry, Bruce Braley, Bruce Braley, as if it matter in Iowa. That, there are little things like this, Vice President Biden made a mistake today, and a part of that.

GUILFOYLE: But he's probably right.

PERINO: There are a lot of other things going on in the White House, and campaign is probably the last priority on their list.

GUILFOYLE: Yeah, well sure enough, you can put your money on it. If Orman gets in, he's gonna caucus with the Democrats, so Biden was not just little bit of refreshing Uncle Joe truth serum.

GUTFELD: Yeah, that's the great thing about Joe, you can always rely on him to tell what really happening.

GUILFOYLE: He's like a polygraph.

GUTFELD: And he underlines the fact that we brought up many times before, that for a Democrat or a liberal to win, they have to wear a disguise, because they know they are so unpopular, they have to pretend to be something else in order to get through the door. They run right and then they act left.

BECKEL: Well, it's also safe to say that the Republicans are not in terribly good shape. This is not a race on parties, I mean, if there were, they both -- then nobody would vote. And by the way.

GUTFELD: That's not the case all the time.

BECKEL: Well, not all the time, but I think in Kansas -- this guy, I think this guy will actually caucus with the party that has power, I mean, to their door (ph), reason is --

PERINO: Can't you just go, like lame.

GUTFELD: Watch your language, Dana.

PERINO: Is that another one of those words I don't know the origin of?


PERINO: I don't like -- I just, I'd like to see somebody with principles. What do you stand for, what you want to accomplish and then pick aside.

GUILFOYLE: He's like a bandwagon guy. He's favorite thing about happy Halloween is like today, I'm just with the Democrats, tomorrow I'm Republican, now I'm independent.

GUTFELD: And your prom date on The Brady Bunch, who was waiting and then when Marsha got her nose broken, he decided to go with the other girl.


BOLLING: You should see him, and watch the couple of interviews of him today, dock the question of Obamacare, minimum wage, he just won't go there.

PERINO: He won't take a position it?

BOLLING: He won't take a position. Because he says, he'll -- when he gets there, he'll figure out where he wants to caucus.

GUILFOYLE: Well, who want to vote for somebody like that? That's the problem, I don't understand.

BOLLING: Joe Biden, for Joe Biden to be right, Democrats would have to pick up New Hampshire, North Carolina, Kansas with Orman, and he have to go -- with the Democrats. Louisiana and Iowa that would be a very, very big night for the Democrats if that happened.

BECKEL: Now, yeah, sure. I mean, but conversely, if Democrats lose in New Hampshire and North Carolina, it's Katy bar the door. There's one -- the margin of getting there is against it -- appreciably smaller, it probably means, you're probably gonna have a 50 vote Republican number in the Senate, and you have to wait for a runoffs, and the runoffs are probably be Republican. The other things keep in mind here, some of these states trigger automatic vote recounts which just 1 percent or less. And when you got to talk about Alaska, you got to get some votes out there from ways out there in the thunder you know, it could be a very late night. But the.

PERINO: It will be interesting to see what the caribou have decided.

BECKEL: Well, I would vote him if I were out there.

GUILFOYLE: Bob, you would. You find the bag of votes.

BECKEL: Sure, he'll yeah.

GUILFOYLE: Got in the cash and the care of you to toss in along the way.


PERINO: Kimberly, one thing we haven't talked about is state legislatures. And the Republicans have the majority of governorships, they might lose, the Democrats might pick up one. But the governor's races have been actually pretty good for Republicans, but we don't talk too much about the state legislatures, those are almost going to be uniformly Republican majorities across the board, and that matters because state legislators that are Republican, that help a Republican governor actually can get policies put forward. That matters also then for the future, because governors that have experience of accomplishment, and management, tend to make good candidates. So, as we look ahead into the future, 2016 even 2020, is governor's races are important?

BECKEL: You may have award (ph) the Republicans did the legislatures ever, legislature ever which is -- it really doesn't make -- by the way, at minimum wage, there five states that have a minimum wage initiative on the ballot.

GUILFOYLE: On the ballot, yeah.

BECKEL: And my guess is they are all gonna pass, and if you look with people who gonna vote, I bet Republicans vote for it.

BOLLING: Alaska, Arkansas, Illinois and Nebraska, South Dakota also marijuana in a couple of states, D.C., Alaska, Oregon and Florida.

GUILFOYLE: And Florida as well.

BOLLING: Would be a medical.

GUILFOYLE: Medical marijuana to make it legal.

PERINO: Do you think, Bob, actually Greg, I was gonna ask about that D.C. legalization of marijuana, do you think that will pass in D.C.? Because you lived there for a while.

GUTFELD: I guess so, the tide is turning. I think people are less inclined to look at it as something evil, and more like, something that as adults we can handle, I want to point out. However, a lot of people are wondering what's on tonight, the sides, the election's, because where are they gone. On animal planet right now, they are going to have a marathon of finding Bigfoot. They've had sightings in New Jersey, Santa Cruz and Massachusetts, pretty sure it's a shirtless Shepard Smith, he's hairier than a Turkish bath shower drain.


PERINO: That's going to go over well.

GUILFOYLE: There's going to be payback for that.

GUTFELD: That was payback.

BOLLING: Can I tell Bob something?


BOLLING: You've been saying, its low turnout, low turnout, for God sake, how long we've been talking about this. Why is it going to be low turnout and where are all your Democrats?

BECEKL: The turnout figure will vary state by states. Someone who have big turnouts, but which you know, you always hear this in the middle of the day, gosh, it's the biggest turnout ever, people are saying in line. And it says not be that way -- But I guess it will probably few voters whose gonna vote now, the voter as the percent of the elector.

BOLLING: With five points, you've got the liberals have been saying, "Well the reason why this is so skewed to the Republicans this time is because it's gonna be a low turnout." But, if that were the case, where's the --


BECKEL: Democrats don't have a lot of -- first of all, most Democrats are running in some very difficult states and they don't have a whole lot to be out there cheering about.

GUTFELD: But the good news for Democrats is, if they don't vote today, tomorrow, they have until tomorrow to vote.


GUTFELD: That's the new rule.

BOLLING: 8 o'clock I think.

GUTFELD: Yeah, so 8 o'clock tomorrow, Democrats can still vote.

BOLLING: Republicans need to vote today, and Democrats need to vote tomorrow.

GUILFOYE: I knew. Oh, it's like.

GUTFELD: I just wanted to get that out there, before we forgot.

BECKEL: If I was still in the business, this would be an easy call.

BOLLING: That was a joke.


GUILFOYLE: Yeah, do you have to call the election by whoever needs your accounting right.

BOLLING: The media matters calls that the Department of Justice, I know, is that we were just kidding.


GUTFELD: Wait, I was serious.

GUILFOYLE: Alright, they got to go. Next, Republicans are poised to make history with a number of races tonight, Dana's gonna tell you how when we come back, stay with us if you dare.


PERINO: By playing that song, we have guaranteed that my friend Ed Gillespie will win in Virginia tonight, thanks. Alright, Bob, you know that you're with me. Tonight, Republicans are not only poised to reclaim the Senate, they could also make history in a number of races, New York Elise Stafanik is said to become the youngest woman ever elected to Congress. Utah's Mia Love, maybe the first African-American Republican woman elected to the Chamber. Joni Ernst could be the first female elected to Congress from Iowa. And Tim Scott was appointed to Senate in South Carolina last year, but today he's expected to be elected to the post, the first black senator ever from the state, and Greg, the first two have served in both the House and the Senate. So, there's no doubt that the Republican that needed to figure out a way to improve on -- diverts (ph) of its candidates and of outreach. But, you could say, I think you would even say -- that they have done a better job this year.

GUTFELD: Yes. The party, the party needed new blood and I don't mean a transfusion from Chuck Grassley, they need a young people, they need more women, they need blacks, the big deal though is about the people that are coming to the Republican Party, are coming despite the abuse they get. The way -- liberals hate black conservatives more than they hate white racists, they are called horrible names, even British jerks like Russell Brand go after them, I mean, it's open season on black conservatives, for women, conservative women, I mean you're not really a woman unless you adored Lena Dunham. So, it takes incredible bravery -- these are the -- really the trail blazers for the Republican Party to withstand the abuse that they get from their peers who are generally in their age group or within their group in general, who are not like them. So these guys -- these are the real brave people and we should salute them.

PERINO: It's not easy to run for Congress, Bob, what do you think?

BECKEL: I think, at first of all, I was accused of being too low key in the first block because I was trying to be -- but now that we've got on this time, we gonna make a point. You said the first, the first, the first, the first, that's right, it's a start. But it should have started years ago. The Republican.


GUTFELD: Everybody wouldn't they -- is not.

BECKEL: No, no -- if you had enough of them in there, you wouldn't be abusing them.

PERINO: Then Bob, remember when Tim Scott was nominated to the post.


PERIONO: And the things and the terrible things that were said about him today. You can't -- we can't do anything about the past, the past is the past. I think that.

GUTFELD: Yeah, like when we started the KKK?

PERINO: Oh what, oh what.

GUTFELD: Oh, wait, that was the Democrats.

PERINO: The Democrats.

BECKEL: You know, you're right, you can't do anything about the past, but the fact is this is 2014, and this should have been done earlier was not -- is now isn't the start. I don't think it's gonna be a ground swell, we're talking about a very small percentage of people.

GUILFOYLE: Can you keep talking about his?

BECKEL: And the Democrats have been doing this for a long time. What?

GUILFOYLE: You got to be positive about this, this tremendous accomplishment. I encourage anybody who wants to be involved in politics, and think they can serve, have the courage, it's not easy to be.


BECEKL: I made, I made some comments about Scott which were terrible, I shouldn't have said them. But, I said it because our view of this is that Republicans have never set foot in black territory, they have never -- except for Rand Paul.


GUILFOYLE: that is not fair.

PERINO: Would you think the whole faith based initials for President Bush was based on trying to help the African -American community, that whether the government wasn't doing enough to help them.

BECKEL: But I would say, the Republican is the rule, do not campaign but (inaudible)

PERINO: But that is, OK, let's go Eric, that is changing. If you were a candidate and you're taking an economic message to people, what would that be?

BOLLING: Well, let's just start to what's going on right now. So, if Republicans have a successful night, they'll have ten women, four minorities, two openly gays, three millennials and this one. This one is really, really important, the Latin America vote is starting to move to the GOP because.

GUILFOYLE: The Natural fit.

BOLLING: Well, it's a natural fit, but they're frankly upset for the last six years they have been promised immigration reform and they haven't gotten it. Think about for second, every single month, 66,000 Latin- Americans, Latinos, Latinos turn 18 years old. So their average voting age is 27 years old, whereas the American electorate is around 40 years old. So, the younger their natural fit for the GOP and they're starting to move -- if you get the Latin American vote to move over to the GOP --


BECKEL: What is your emphasis if their moving to the Republican Party.

BOLLING: Bob, you do not heard the.

GUILFOYLE: I know Bob.

BOLLING: That they have wanted immigration reform and then promised to.

BECKEL: Yeah, and they blame the Republicans who are denying it to them.

BOLLING: No, they're not -- for Barack Obama.

BECKEL: No, they're not. They are not.

BOLLING: Took it off the table, absolutely.

BECKEL: You're dreaming, you're dreaming, you're dreaming.

GUILFOYLE: Promised them, they took it off the table and so now they're looking to be courted for a party that is going to -- in particular, pay attention to the wants and the needs of the Latino community, and where there was get on board and try to pay attention.


BOLLING: They can do it. The best thing the Republican Party can do, whether it's far right or center right is to embrace that vote, there are a lot of them out there, they are going it, they're willing things to do that. And find a way to get that done.

PERINO: Immigration reform is not the only policy Bob. I think there -- one of the -- Eric is exactly -- absolutely right, about some of the study that show, on a polls in is your on that there are ways to encourage Hispanics to vote for Republican policies, if they're explained in a way that shows them that you want better schools, the teachers unions are a problem but we're willing to try to fix that.


PERINO: You want to keep more of your money in your own pocket, in our state, we've done that -- that's why the governors are actually so successful, and Republican governors and two governors that don't get any credits this time around that are being re-elected are Nikki Haley who's the American woman to win in South Carolina, she's a governor, she's going to sail away with it tonight. And Susana Martinez, New Mexico, they don't get any attention, because their races were easy, and -- but it shouldn't have been that necessarily that easy for them. Right?

GUILFOYLE: So they're quite strong leaders with some ideology.

GUTFELD: Right, Absolutely right.


BECKEL: A Republican would have to drop dead in front of the railroad and say not to win the governorship in north -- South Carolina.

GUTFELD: But when you think about it, what is disadvantage? Conservatives have, it's like -- you imagine if you play foot -- pro football and you hated the sport, that's a conservative politician. You are playing a game, a realm.


GUTFELD: That you despise. And yet that's what that has to think.

BECKEL: You guys stop whining about this and do something about it.

GUTFELD: What are you talking about? We are.


GUTFELD: I was like you film you whining all last week.

BECKEL: I beg your pardon.

PERINO: I got to run, OK. Should Republicans compromise on the president's agenda if they win back the Senate tonight? Why would they. Some post election advice from the Party, goes from Greg. Who is the Party?

GUILFOYLE: This is unfair.


GUTFELD: Anything short of a blowout for Republicans is bad and here's why. After six years of anything, America gets bored, that's why presidents should only get one six-year term. Afterwards, it takes on the stanched of bad protest. If you had a breed of dog that stayed a puppy forever, you would eat it by the six year.

PERINO: Oh my God.

GUTFELD: At least the president would. I kill the dog eater. But, if Republicans win big bind go nuts, but I warned you, be weary, lessons must be learned or in two years it's back to the Dem's and their dirty election. The lessons, you won now not because your vision rules, but because Obama's so weak. If this were let's make a deal, the Republicans are what's behind door number two, after door number one revealed a bag of snakes made of spiders. The Dem's are losing because their ideas one, and as always to the media, a Republican victory is somehow, still a win for Obama.


UNIDENTIFIED MALE: What are they prepared to give to the Democrats.


UNIDENTIFIED MALE: To meet them and on a little ground. What they go immigration, what are they going to do about minute minimum wage. Things have not been done in the last couple of years, in part because, both parties have said (ph) out positions at either end of the spectrum, and refusing to meet in the middle. That's the question I think that the country is really fed up with.


GUTFELD: So it, the country votes thumbs down on Obama, which really means thumbs up, and when a Republican wins, Browka (ph) says, you must capitulate. If only Putin, Iran and ISIS felt that way, we'd be losing our way to victory. And so your opponent, the media is already prepping your demise, to them 2014 is not the game, but actually jousted in the mission. This is why 2016 is where your head must be, skip symbolic battles and small skirmishes, they're just traps. Instead, find a candidate and their message, it's simple. A strong force full patriot who puts the nation first finally, who wants America to be America once again. The Camp Councilor and his operative therapy, it didn't work out. The path is clearing, people are ready, now get to work and win the big one for a change.

Now, as I often to, I was tell my monologue to Dana Perino, and she would look over, and you were very upset. She said, "This is the worst thing you've ever read."


GUTFELD: Why do you not.

PERINO: No, I didn't say that. And actually listening to it wasn't as bad as when I read it.

GUTFELD: Well, that's good.

PERINO: I didn't like your opening line, where you said that anything less than a blowout is -- I sort of feel like we have to look at the facts in context.

Since 1980, Republicans have never been able to pick off more than two incumbents at a time. Today, we are talking about the possibility of seven. Incumbents are very, very hard to beat, whether you're Republican or Democrat.

I agree with you about the Tom Brokaw point, because why isn't the question, what will President Obama do now to meet the Republicans partway on some of these issues? Because I do think they're going to send him a lot of legislation, and he'll have to decide whether to vote for or not. I just sort of feel like we shouldn't jump on the Republicans. Got to have one night of saying, "OK, you did a lot of things right. You've won some races. Now, of course, a candidate will emerge," but that doesn't have to happen start tomorrow.

GUTFELD: Yes, but Eric, shouldn't -- shouldn't people be hard on Republicans so they don't blow, so they actually plan ahead in the next two years?

BOLLING: Here's the -- here's what it seems that it's going to play out. They're going to -- the Republicans get the House and the Senate, and then they're going to come out and be very blustery. That would be a mistake. They come out saying impeachment, "start that lawsuit," or saying, "We're going to defund Obama care" and things like that. You don't want to do that. You'll turn everyone off immediately.

What would be nice if they came out and said, "We have a couple of things that maybe you could meet us, Barack Obama," at least partway. Keystone Pipeline, some offshore drilling, things like that.

What may or may not happen, I would think he would have to capitulate and sign a Keystone Pipeline into law and maybe some of the drilling.

PERINO: Or maybe not. He might be willing to be overridden on that.

BOLLING: Then you know what he'll do? Then he's just going to fundraise for the next two years. And then you have the lame duck who's fundraising. And then you have a chance to say, "Hey, look. Look what happened when he didn't get his way for the last two years." De went and decided to try and change things for 2016. Then you have an opening in 2016.

GUILFOYLE: I think he's more -- he's more careful about his base, and his core ideology, where he tried to transform America. And he's not going to willingly turn over the keys to the car to a bunch of teenagers, as far as he's concerned.

However, he should take a lesson from Clinton...

GUTFELD: Good point.

GUILFOYLE: ... and try to do something to move more towards the middle to see what he can do, to show that he's serious about jobs, that he cares about America, for example the Keystone Pipeline. Try to show that he is a leader in consensus, because at the end of the day, this is going to be his legacy. These last two years could be very defining, because he's coming into it very unpopular. There's a lot of things that have gone terribly wrong. So it's not just being ineffective. There are things that have been highlighted that they're going to be able say, "We're going to do it differently."

GUTFELD: You know, Bob, K.G. makes a great point. Bill Clinton really didn't leave his mark on his presidency until he had actual competition.

BECKEL: Yes, look, I think there's -- a lot of legislation is passed when you're got the Congress in the hand of one party and the White House in terms other. Big legislation, because it's bipartisan and has support that way.

But you know, I've got to ask you a serious question. You tell me one thing the Republicans gave -- came to Barack Obama when he won. I can't think of a single thing. Not on.

BASH: But there was a different, right? Because the president didn't need the Republicans...

GUILFOYLE: He didn't need them.

BASH: ... because they had both houses.

BECKEL: 2012 he did. Sure he did.

PERINO: At that point, the damage has already been done, when he was running for president.

BOLLING: Everything that the House passed, Bob, that went to the Senate, Harry Reed still has on his desk.

BECKEL: Yes, but for good reason, because it stinks.

BOLLING: Why didn't anything get passed in 2012?

BECKEL: No, no, I said why didn't they try to meet him halfway? If I were Obama, I would invite them down, the leadership of -- the Republican leadership down to the White House as soon as I could, and figure out one thing you could go on. I still think tax reform is...

PERINO: There's something even smaller that they could do immediately that the Democrats would not give Obama that he deserves and needs, and that's trade for more promotion authority. TPA. It's something the Democrats have been holding back. Republicans are for free trade. They could actually help. That would be a gesture of good will and a way to get the ball rolling.

GUILFOYLE: That is just a...

GUTFELD: No, I was just thinking about TPA. I was thinking, "Why aren't they going to do TPA?" Yes.

GUILFOYLE: I mean, obvious.

GUTFELD: Obvious now that Dana brought it up. We should do a whole hour tomorrow on TPA. I think.

GUILFOYLE: With no commercial breaks.

GUTFELD; No commercial break, yes. Exactly.

GUILFOYLE: No message from sponsors.

GUTFELD: Exactly. Nonstop TPA.

All right, ahead, will Angelina Jolie's name be on a ballot sometime soon? The mega star on her political future next on "The Five."



BOLLING: Welcome back. Time for...


GRAPHIC: The Fastest 7.


BOLLING: "The Fastest 7" minutes on television. Three prodigious stories, seven prompt minutes, one policent (ph) host.

First up, with literally millions of dollars spent on political ads, some were very effective. Some fell flat. Leave it to Jimmy Fallon and "The Tonight Show" crew to find the wackiest ads of the cycle.


JIMMY FALLON, HOST, NBC'S "THE TONIGHT SHOW WITH JIMMY FALLON": Tomorrow are the midterm elections in case you haven't heard. And if you're still undecided, the good news is that there are plenty of dignified campaign ads to help you make a decision. These are all real. Take a look.


UNIDENTIFIED FEMALE: I grew up castrating hogs on a Iowa farm. Congressman Yoder made news by skinny dipping on the job.

UNIDENTIFIED MALE: I use my block to blow your (EXPLETIVE DELETED( socks off.

SHAWN HAUGH, SENATE CANDIDATE: More weed, less war. Vote Shawn Haugh.

UNIDENTIFIED MALE: I like turtle soup.

UNIDENTIFIED MALE: Thom Tillis in the Senate. (singing) It feels so right.


BOLLING: And some of them really worked.

GUTFELD: Well, the great thing about these ads is how awful they are. They're awkward. They're strange. They're like the guy at the hardware store who hangs out there but doesn't work there. And they're memorable. Do you remember the best campaign ad of 2012? No.

GUILFOYLE: Well, that was a trick question.

PERINO: You didn't even give her a chance to answer.

GUTFELD: Because we're in a rush. Seven minutes.

PERINO: I might remember. We played it on her DVR over and over.

BOLLING: I remember a Sarah Palin ad, where the turkey was getting his head cut off in the back.

GUTFELD: That was amazing.

GUILFOYLE: That was a good one. I like the castration video. I'm all for Joni Ernst.

PERINO: Well, the Joni Ernst ad on castration, remember that ad went -- was a web ad that got Ernst media attention that actually then put her on the map so she could start raising real money to be competitive.

GUILFOYLE: Yes, it didn't even cost her much.

PERINO: So that ad did work. I do wonder, though, if there's so -- Bob was just saying earlier today there's so many ads now that I don't know how effective they are, if people just tune them out or what.

BECKEL: That's exactly right. It's one of the biggest wastes of money I've seen in politics. Look, the Democratic Campaign Committee did 100 and some odd thousand ads, and the Senate -- Republicans did something like 80,000. And it's ridiculous. Who can get yourself through that?

GUILFOYLE: I think effective ads do matter. If you -- if you remember them, if it's a simple message, you learn something. The risk is, if you have a really bad ad.

BECKEL: Or on network (ph) too, though.

GUILFOYLE: I mean, that's Frank Lutz, to tell you that they can work, and they resonate with voters. And you see some of the people who are doing very poorly in these elections. So were their ads.


BOLLING: Hold up. Let's get to...

BECKEL: ... a bunch of monkeys that crapped on the set.

BOLLING: OK. Next on "The Fastest Seven." Angelina Jolie, amazing actress, you know, strikingly good looks. You and high commissioner for refugees.

So what may be on the star's radar? Politics, perhaps. In a new interview with "Vanity Fair," she says, quote, "When you work as a humanitarian, you are conscious that politics have to be considered, because if you really want to make an extreme change, then you have a responsibility."

Let's bring is...

GUILFOYLE: I love the statement, and again, I encourage any woman, especially, that wants to get involved in politics. She certainly has accomplished a lot in her life. She's shown that she has a very sincere, genuine care for the health of women. A very vocal person with breast cancer in her family and having the BRCA (ph) gene and undergoing the double mastectomy and for ovarian cancer and everything.

And with children, as a humanitarian and good will ambassador. So I would encourage someone like that to run.

BECKEL: I'm going to be the first volunteer to manage her campaign.

Secondly, this is not the first person to do that. Let's look at Sonny Bono and Ronald Reagan.

BOLLING: A lot of them.


BOLLING: And her father is a conservative.

Go ahead, D.

PERINO: Well, it's a chance also -- this is a pattern that we've seen throughout America, which is that once you get through whatever career steps you're going to have and you have some success, and then you start doing some charity work, and then you decide that there's another way to get back, if politics is in her future, I think she would be a good contributor.

BOLLING: Would you vote for her?

GUTFELD: Well, you know, we talk about it a lot when we get together. And I have always told her to follow her heart in all of her endeavors. And she listens and we laugh a lot, and then I promise to tell her that I'll never talk to Brad about us. He's uncomfortable about our relationship. He finds it -- I think he finds me threatening, and I don't understand why. It's just a close friendship.

BOLLING: He stays in the other room and watches TV?

GUTFELD: Yes. He'll -- sometimes he just storms out when I'm over. I'm like, dude, what's up, man, it's like, cool, and then he's like no, whatever. And I'm like no, whatever. And it goes on for like stays.


BECKEL: Yes, but he found those little socks in his bedroom.

BOLLING: How about this one, finally. Taylor Swift made a surprise decision to move her entire music selection off Spotify, the streaming music service, this weekend.

PERINO: Oh, my God. What is...

BOLLING: Some say the decision was too swift. Others say it was tailor- made for an upcoming massive business deal in her near future. Either way, if Spotify, shake it off. After the deal, no more (UNINTELLIGIBLE). Enough puns?

GUTFELD: I don't get any of that, but you know, we talk about it a lot, when we meet up. I told her just last night, to follow your heart, which she did. And we laugh. She tells me how beautiful I am. I wrote all of her songs.

BOLLING: Very nice.

BECKEL: I don't know what Spotify is. So that's the start. But can I go back...

GUTFELD: What your doctor does during a checkup.


BECKEL: What, you said you were a promiscuous host?


GUILFOYLE: Like Pandora, Bob.

BOLLING: Go ahead, K.G.

GUILFOYLE: She's got something up her sleeve. I think she's a very good businesswoman. So far she's made tremendous good moves. Good for her. Let her be an inspiration to others.

BASH: And she's confident enough, and in a position now she can experiment a little bit. The music industry is in transition. She might be charting a new course.

BOLLING: They need her more than she needs them, I would say, at this point. Always -- always a good place to be.

All right. Straight ahead, this year's midterm elections are the most expensive in history, but you'll be surprised by things Americans spend even more money on. That's coming up. Bob's got that.


BECKEL: This year's midterm election is going down in history officially as the most expensive: more than $3 billion. That may sound like a lot, but it's not as much as other things Americans spend money on, like $83 billion on -- what is that?


BECKEL: Beer. A year on beer. Eighty -- $69 billion -- I can't read this. Sixty-nine billion on lottery tickets and an even $6 billion on...

PERINO: Taco Bell.

BECKEL: Right. OK, first of all, this is done by "The Washington Examiner," which is this right-wing rag down in Washington, and if I can point out...

GUILFOYLE: Whoa, whoa, whoa. Take it easy.

BECKEL: ... you can try to compare beer to contributors. A very small percentage of Americans contribute. A lot of people drink beer, so it's a ridiculous comparison. But that doesn't change the fact that a lot of money is being spent.

Now Eric, if you look at this, it has been ever since the Supreme Court decided to allow everybody, anybody to spend money on politics.

PERINO: You mean to respect the First Amendment?

BOLLING: Put your money where your mouth is, and that's a great American right. And we're all -- we're all for that.

BECKEL: "Your" as in corporations. That's "your." Right?

BOLLING: Yes. Corporations are people too, right, Bob?

BECKEL: Right.

BOLLING: I think this is...

BECKEL: No, that was your guy.

BOLLING: This is -- what's the difference if we spend $3 billion or $5 billion? We've earned it. We've -- that's what we're entitled to. That is, as they point out...

GUILFOYLE: That's called discretionary spending.

BOLLING: ... the First Amendment. You have the right of free speech, and you can spend your money the way you want to do it. This is fantastic.

By the way, $3 billion seems like a lot to you?

BECKEL: What I see on the campaigns...

GUILFOYLE: Honestly, it's really not.

BOLLING: We can go through the budget.

GUILFOYLE: How many Solyndra solar panels is that?

BOLLING: You can find 30 or $300 billion of waste.

BECKEL: Three billion dollars on races that ad up to about 480 races is nothing?

GUILFOYLE: Bob, you're one of the people that benefited from this when you were getting paid all that money.

BECKEL: No. I got out before they got this kind of money in it. I mean, it was -- nobody -- A million-dollar campaign for the Senate was very, very rare, and $200,000 for a House race was very rare.

GUILFOYLE: You're missing the point, that this is America.

BECKEL: America!

GUILFOYLE: And nobody gets penalized for exercising their vote.

BECKEL: America!

GUILFOYLE: And if you want to put money in campaign coffers, because you've got a candidate...

BECKEL: That's right.

GUILFOYLE: ... you can do it. No one is stopping you from doing it.

BECKEL: Right here in America you can do that. Now...

GUILFOYLE: Vote for whoever you want.

BECKEL: ... there was a time when we decided after Watergate that we were going to try to put some restrictions on money and politics. I think we should go to the one true way we can do this, and that is taxpayer-funded elections.

PERINO: Yuck, yuck.

BECKEL: That's right. We want to let the Koch brothers do it, right?

GUTFELD: Yes. It's on fire.

PERINO: Bob, the Democrats have actually raised more money -- third-party money than the Republicans this year.

GUILFOYLE: How about that?

PERINO: So they might complain about it, but they actually have over- performed.

BECKEL: Environmental groups and others? That's right.

GUILFOYLE: They're the key perpetrators. And they've wasted all that money.

BECKEL: Not oil polluters.

GUILFOYLE: All right.

BECKEL: Greg, will you please let me know what you think about this? You can just say whatever you want.

GUTFELD: I find it interesting that you spend $6 billion a year on Taco Bell. That translates to $25 billion on toilet paper, which is amazing.


GUTFELD: Another interesting fact -- yes, TPA. We spend $12 billion on bottled water, something that you get for free, you spend $12 billion. My last little statistic: We spend twice as much money on global warming, $22.2 billion that we do on border security, which goes back to our point that hysteria pays.

BECKEL: But don't you think that comparing campaign contributions on this broader use of money that we spend for consumer products makes no sense?

GUTFELD: No. I think it's good for context.

BOLLING: Yes, it's good to know.

GUILFOYLE: I thank you for putting this to our attention.

PERINO: I think the market is deciding.

BECKEL: The market is deciding. Well, right here in America, you can do that. "One More Thing" is up next.

GUILFOYLE: Well, at least I speak good.


GUILFOYLE: Time now for "One More Thing." We're going to begin with Greg.

GUTFELD: Well, because it's the election night, if there's a reason to vote Republican, it has to be this: Ed Schultz. Look at this. This might be the creepiest thing I've ever seen, well, since I saw it earlier today. The rumor has it that if you stare at this longer than ten seconds, worms will grow in your skull and devour your brain. They call it the Ed Schultz disorder.

GUILFOYLE: That was so super weird. Eric.

BOLLING: Did that say "vote" on his finger? Vote?


BOLLING: All right. So after a very long wait, my good friend Donald Trump, "Celebrity Apprentice 6," he announces his new cast. There he is. Geraldo Rivera will be on the cast, along with -- I'll name a few -- Ian Ziering, a Jonas brother, Gilbert Gottfried, Lorenzo Lamas on the guys' side. On the girls' side, among others...

GUILFOYLE: Johnny Damon.

BOLLING: Vivica A. Fox. Johnny Damon, right. Leeza Gibbons, two "Real Housewives" and Kate Gosselin, among others. So good luck to you guys.

GUTFELD: Kate Gosselin?

BOLLING: Good luck to Geraldo.

GUILFOYLE: That's going to be fantastic.

BOLLING: Geraldo's good. He might just do well in that.

GUILFOYLE: Go Team FOX. I'm putting my money on him.

BECKEL: I can't wait to see that.

GUTFELD: His moustache is competing independently.


GUILFOYLE: That was coming. You knew that was coming.

GUTFELD: Yes, it's favored to win.

GUILFOYLE: Ms. Perino, who we'll be watching later tonight. You're going to be on the election coverage.

PERINO: Yes. I promise to talk more about the Trade Promotion Authority.


PERINO: But before that, you know what every election day needs?

GUILFOYLE: What's that?

PERINO: Puppies.


PERINO: Check this out. This is a woman named Amy Strong, has a little puppy sheepdog. And his name is Simon. And he is so confused, looking for his reflection. He's like where is that puppy?

BECKEL: He's looking for the crap is what he's doing.

GUTFELD: How can you find this funny?

GUILFOYLE: I'm actually disturbed.

GUTFELD: This is harassment.

PERINO: Do you think it's cruel? Because he wants to know, like, where is that dog?

GUTFELD: "Oh, you have a friend." But you really don't.

PERINO: He wants to play. I think that dog...

GUILFOYLE: I think that's horrible.

GUTFELD: That's horrible.

BOLLING: That woman is like in Greg's sports...

GUILFOYLE: Dana, that was a little awkward for America.

GUTFELD: I think somebody needs to take your dog away.

GUILFOYLE: ... Jasper.

PERINO: My dog is smarter than that, though he does try to find -- see, like if a bird -- if you watch a documentary, nature documentary, he'll have to go behind the TV to see where the bird went. Very smart.

GUTFELD: Yes. I do that, too.

BECKEL: Real smart, yes.

Greg, do you have anything living in your house? I mean, animals wise.

GUTFELD: I do have some things, but I'm not allowed to say who, because then the police will be notified.

GUILFOYLE: And that is always incredibly awkward.


GUILFOYLE: You have to post bail. Poor Greg. Good.

All right. I've got a great "One More Thing." Are you ready for this? Greg?


GUILFOYLE: Not the royals. Play the video -- there we go.



UNIDENTIFIED FEMALE: Because it was good.

UNIDENTIFIED MALE: You ruined by life.

UNIDENTIFIED FEMALE: We ate it all while you were sleeping.


UNIDENTIFIED FEMALE: We got hungry last night.




PERINO: We show this every year. I don't think it's funny.

GUILFOYLE: Well, no. This is a new one.

PERINO: I know, but they do the same prank every year to children.

GUILFOYLE: Dana, you don't have kids. You would know, this is the reality. You're like an endangered species in the house, if you hide the candy, if you eat the candy. I try to get Ronan to line up his candy. He was afraid it was like a ploy to take the candy. You know, this is what kids do.

BOLLING: Eight months old, the candy is all stale, and you still can't have a piece.

BECKEL: You know what you sound like? You sound like the Republican National Committee.

GUTFELD: Well, you know, if the government were in charge, they'd just take half the candy and then throw it away.

BOLLING: Give it to someone else. Give it to the kid in the store (ph).

GUILFOYLE: And redistribute it, right?


BECKEL: Kids deserve to get that.


BECKEL: Am I last here?


BECKEL: This is actually a heart-warming story. A 97-year-old woman who became a citizen of the United States recently from China, her family came here and she moved to Minnesota. And she got her citizenship, and she will be voting for the first time...


BECKEL: ... this year at 97. And the nice news is that she will be voting Democratic, which I'm glad to hear.

BOLLING: We don't know that.

PERINO: Bob, why don't you just say it's nice that she gets to vote?

BECKEL: She says right here.

BOLLING: You don't know that. You made that up.

BECKEL: I didn't make it. What are you talking about? What are you interrupting my "One More Thing"?

BOLLING: She's going to vote Democrat. How many times is she going to vote?

GUILFOYLE: All right. Let's just celebrate the fact that she became a citizen and she gets to vote?

BECKEL: Well, if it were up to me -- I like the Democratic Party. But the fact she became a citizen and she's doing this, and I think it's great.

GUILFOYLE: All right. And for intelligent election coverage, keep it on the FOX News channel. Bret Baier, Megyn Kelly, Dana Perino, all night.

PERINO: Krauthammer!

GUILFOYLE: We'll see you back here tomorrow.

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